Bitcoin Collapse Prediction: Many argue that Bitcoin reached its 2022 low on Saturday. Since Saturday, BTC has increased by 23%. Does it mean that the accident is over?
Bitcoin Collapse Prediction: Why Do People Claim the Collapse Is Over?
- Santiment data: The supply or supply of BTC remains low, suggesting that many think Bitcoin prices will rise from above
- Technicians (MACD and RSI analysis) suggest that bitcoin minimum is here
- BTC’s Whale Holdings has increased in the last 7 days
- As for macros, ILO crude oil prices have fallen by almost 7% in the last 2 weeks.
Bitcoin Crash Prediction: Why Do People Say the Collapse IS NOT OVER?
- Some analysts argue that, given that almost half of Bitcoin holders are still in the money, the low of the year has not yet been reached. Bitcoin’s hash rate has declined over the past 3 days suggesting that miners are not confident about Bitcoin prices
- Economic fundamentals (minus inflation) have not yet changed
- There may be more companies and cryptocurrencies that could fail in the coming weeks and months (such as Luna, Celsius, 3AG), and the Federal Reserve’s rate hikes have only begun and are nowhere near where the Fed wants it to be.
So while there are reasons to believe that $17,000 was the bottom, there are also some loose ends. It is best to wait until the July 13 consumer inflation report confirms the fund. Such data should show that inflation declined in June 2022.
